Despite the EUR’s sell off in the final trading session of the week, the single currency has managed to regain some lost ground against most of the G10 and EM currencies. Analysts agree that the “policy process and the firewall thats been built around Greece” have been contributing to the “excessive degree of benefit of doubt” which in turn has helped promote this move.
However, other factors in the background have also been aiding this trade. The dovish Fed message [...] read more
Week in FX Europe Feb 5-10
Purchasing Manager's Index
the Institute of Supply Management (ISM) report uses a base scale of 50 to show changes in growth for the manufacturing industry. An index of less than 50 means the industry is contracting from the original base period, while a result exceeding 50, indicates growth. Results are adjusted to take into account seasonal changes in the industry.
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